Under Peterson's editorship, the journal specialized in LDS apologetics.[7] When FARMS joined with BYU in 1997, Peterson said to the Salt Lake Tribune, "FARMS has often had a polemical edge and we are curious to see how or whether that will be accommodated."[8]

In 2012, Peterson was removed as editor and the journal entered hiatus as it sought to become more mainstream to Mormon studies.[7] In March 2013, the Maxwell Institute announced the journal would relaunch as a new religious studiesreview journal, without a primary focus on apologetics. J. Spencer Fluhman, from BYU's department of history, was appointed editor-in-chief with a new broad-based advisory board.[9][10][11][12] The new Review changed from biannual to annual publication, and restarted its numbering, beginning at volume 1 in 2014, signifying its change in editorial direction as a new publication.[13][14][9]

After publishing six volumes, the Maxwell Institute transferred ownership of the Review to the University of Illinois Press.[15][16]